Business Plan Oreillers Decor at Ifs Store!

8/2/2019 Business Plan Oreillers Decor at Ifs Store!

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Nurul Hashimah Binti Abd Rahman

Decorative Pillow Store

Oreillers Decoratifs

Store Business Plan

Prepared: 11 November 2011



Decorative Pillow Store Business Plan 2011

Table of Contents

Business Plan Summary

The BusinessThe MarketThe Future

The BusinessBusiness detailsRegistration detailsBusiness PremisesOrganisation chartManagement & ownershipKey personnelProducts/servicesInnovationInsuranceRisk managementLegal considerationsOperationsSustainability plan

The MarketMarket researchMarket targetsEnvironmental/ industry analysis

Your customersS.W.O.T analysisYour competitors Advertising & sales

The FutureVision statementMission statementGoals/objective Action plan

The FinancesKey objectives and financial review

AssumptionsStart-up costs for 2011Balance sheet forecastProfit and loss forecastExpected cash flowBreak-even analysis

Supporting Documentation




Business Plan Summary

Oreillers Decoratifs Store offers a collection of decorative pillows such as

throw pillows, baby pillows, breast feeding pillows and pillow cover. The store offersalso services to create the pillows as desired by customers. The creative productssell on the online web store. Then, the products will be sending to the customers bycourier delivery.

The Business

Business name: Oreillers Decoratifs Store (Decorative Pillows Store)

Business structure: Sole trader

ABN: Not registered yet

ACN: Not registered yet

Business location: Kuala Lumpur

Date established: 12 Disember 2011

Business owner(s): Nurul Hashimah Binti Abd Rahman

Relevant owner experience: Partimer of entrepreneur and a student. Haveinvolved in doing marketing proposal for residential college project and sellingvariety of food for students.

Products/services: Decorative pillows such as round-shaped throw pillows,square-shaped throw pillows, rectangular-shaped throw pillows, baby pillows,breast feeding and pillow covers.

The Market

Target Market: Home decor-based business, interior designer, mothers,

breast feeder, and collecting-pillows-hobby person.

Marketing Strategy: Provides a web-based store and has a local store.

The Future

Vision statement: Oreillers Decoratifs Store is a speciality decorative pillowsstore that specialized “one-of-a-kind” merchandise not commonly found in the larger retail market. The owner wants to establish as a successful and profitableentrepreneur. My vision is to provide customers with unique, high-qualitymerchandises at affordable prices.

Goals/objectives:




Acquire and personally design a product line of “one-of-kind” handmade andunique products.

Provide customized products and services that are “tailor-made” to eachcustomer’s personal style.

Establish a loyal customer following by offering seasonal promotions,

discounts as well as offering quality merchandise at affordable prices. Establish a “Brand Identity” that personifies high-quality, decorative pillows

merchandise and outstanding customer service.

The Finances

Generate total sales revenue to establish a profit at the end of year one.

Implement e-commerce capabilities to existing company website in year three.

Establish an annual growth rate of approximately 20% in year three.

Maintain a direct cost of sales of 45% or less. Establish 50% of our merchandise as proprietary products in year two.

Establish our company as a premier “Brand Recognized” name throughoutthe community in one year.




The Business

Business details

Products/services: Decorative pillows such as round-shaped throw pillows,square-shaped throw pillows, rectangular-shaped throw pillows, baby pillows,breast feeding and pillow covers as well as customer’s personal style pillows.

Registration details Not yet registered.

Business premises

Business location: Local store nearby Kuala Lumpur. It will be setting up atsmall shopping mall.

Buy/lease:

Rent small store

Telephone service

Internet service

Web hosting

Organisation chart

Figure 1: Organisation Chart.

Management & Ownership

Names of owners: Nurul Hashimah Binti Abd Rahman.




Details of management & ownership: As the owner, I will be running the business

that involves in the operation and management of the company.

Experience: None

Key Personnel

Current staff

Job Title Name Expected Staff

Turnover

Skills or strengths

Marketing

Manager

12- 18 months Experience doing

marketing 5 years

in the established

company.

Office Manager 11- 17 months Have degree of

business study.

Operations 11- 17 months Experience at least

5 years in

decorative items

manufacturing.

Required staff

Job Title Quantity Expected

Staff

Turnover

Skill

Necessary

Date Required

Technical

Officer

1 12-18 months Experience 5

years in

engineering,

programming

and sale

Dec 2011

Sales person 2 12- 18 months Have

communication

skills

Dec 2011

Recruitment options

Advertising in the online advertising.

Training programs




Training workers for manufacturing the handmade items.

For develop the website, the freelance web developer can be hired.

Skill retention strategies

None

Products/services

Products/services Description Price

Throw pillows #1000 Round-shaped throw

pillows that can be as

home decor items as well

as a gift.

RM19

Throw pillows #2000 Square-shaped throw



as a gift.

RM21

Throw pillows #3000 Rectangular-shaped throw



as a gift.

RM20

Baby pillows A set of baby pillows for

newborn baby for mother

or can be as a gift for

mother-will-be.

RM40

Breast feeding pillow Pillow specially designed

for comfortable of breast

feeder.

RM31

Pillow cover Pillow cover is designed

with variety of patternsand colours for bed

pillows.

RM12

Delivery to west

Malaysia

- RM7

Delivery to east Malaysia RM10

Market position: The products are budgeted but sometimes competitive.




Unique selling position: They are fulfilled the customer’s style and choices.

Value to customer: Establish a loyal customer following by offering seasonal

promotions, discounts as well as offering quality merchandise at affordable prices.

Operations

Production process

Process involved in producing your products or services are designing the patterns

and colours choice for the items, choosing the best fabrics and textures, creates the

handmade pillows by using the machine and completing creative finishing on the

pillows.

Suppliers

Local suppliers are used to buy materials such as fabrics, textures, pre-made pillowsand others.

Plant and equipment

Equipment Purchase date Purchase price Running cost

Sewing machine October 2011 RM700 RM10

Telephone October 2011 - RM50

Computer November 2011 RM900 RM80

Technology (software): Adobe Photoshop software is used for designing. Online web

hosting is used for development of online web store. Online database is also used

for accounting.

Trading hours: Trading hours is usually at 2.30 pm to 8.00 pm.

Communication channels: The customers get in contact with the store or company

by telephone, website or directly go to the store.

Payment types accepted: Cash, credit, Paypal and cash deposit through ATM

services.

Quality control: There is no specific standard for check the quality.

Sustainability plan

Environmental/resource impacts

There is no specific negative effect to the environment.




The Market

Market research based on market segmentation

Your customers

Customer demographics

Demographic

Female

Married

Have attended college

Ordinary citizen

Own their homes, townhouses or condominium

Psychographics:

The appearance of her home is a priority.

Entertaining and showing her home is important.

She perceives herself as creative and tasteful

Behaviour:

She takes pride in having an active role in decorating their home.

Her home is a form of communicating “who is she” to others.

Key customers

Provide customers the best way for product selection.

Make sure the products are high quality and fulfil customers’ desired.

Provide the best customers services so that customers can shop freely.

Increase the accessibility. The buyers can walk out of the store.

Provide customer design service.




S.W.O.T. analysis

Strengths Weaknesses

- Excellent and stable staff,

offering personalized customer

service.

- Attractive, inviting retail space.

- Owner is still climbing “retail

experience curve”.

- Challenges of the seasonality of

the business.

Opportunities Threats

- Growing market with a

significant of our target market

still not knowing we exist.

- Internet potential for selling

products to other markets

- Continued price pressure due to

competition or the weakening

market reducing contributionmargins.

Advertising & Sales

Advertising and promotional strategy

Plannedpromotion/advertising

type

Cost (RM)

Newspaper

advertisement

RM100

Website RM50

Direct mailing -

Posting flyers RM50

Sales and marketing objectives

Pricing strategy

The pricing structure remains affordable and in-line with other speciality

decorative pillow retailers. The pricing structure is also based on the value the

customers place on these products.

Promotions strategy




Oreillers Decoratifs Store will host several seasonal open houses offering

special discounts.

Objectives

Increased overall awareness and image.

Meet the online interests and needs of the existing customer base.

Expand the total out-of-area customer population.

Exploit upsell and cross-sell opportunities.

The Future

Vision & Mision statement

Oreillers Decoratifs Store is a speciality decorative pillows store that

specialized “one-of-a-kind” merchandise not commonly found in the larger

retail market. The owner wants to establish as a successful and profitable

entrepreneur. My vision is to provide customers with unique, high-quality

merchandises at affordable prices.

Goals/objectives

Acquire and personally design a product line of “one-of-kind” handmade and

unique products.

Provide customized products and services that are “tailor-made” to each

customer’s personal style.

Establish a loyal customer following by offering seasonal promotions,

discounts as well as offering quality merchandise at affordable prices.

Establish a “Brand Identity” that personifies high-quality, decorative pillows

merchandise and outstanding customer service.

Action Plan

Milestone Date of expected

completion

Person responsible

Business concept &

planning

1 month Manager

Manufacturing product 2 month Operator

Site development 1 month Technical Officer

Promotional campaign 1 month Marketing Manager




The Finances

Key objectives and financial review

Business Plan Oreillers Decor at Ifs Store!

Documents

Transcript of Business Plan Oreillers Decor at Ifs Store!